Cresco Labs Acquires And Opens Hope Heal Health Dispensary In Bristol County, Massachusetts

ILLINOIS: Cresco Labs, one of the largest vertically integrated multi-state cannabis operators in the United States, today announced the opening of the Hope Heal Health Dispensary (HHH) in Fall River, Bristol County, Massachusetts. Cresco Labs entered in to a definitive merger agreement with HHH for its Massachusetts cultivation, manufacturing, processing, and dispensary operations at the end of 2018. The merger is pending state regulatory approval.

“With another fast-to-market example of our successful execution, we are pleased to offer relief and comfort to 60,000 certified patients in Massachusetts,” said Charles Bachtell, CEO and cofounder of Cresco Labs. “Massachusetts is a robust and fast growth cannabis market, and HHH expects its first pilot harvest from its Fall River cultivation facility towards the end of the first quarter. Cresco has applied for adult use licensing for our Fall River dispensary, which opened today with a selection of medical-grade cannabis vape cartridges, edibles, tinctures, topicals, concentrates, and flower from three Massachusetts cultivators.”

Patients can purchase up to 10 ounces every two months after being certified by a physician for any one of the Massachusetts state-approved debilitating medical conditions. Cresco Labs’ core mission of patient education and outreach will help inform patients about using medical cannabis as medicine through private one-on-one consultations.

HHH has licensing that allows for cultivation, manufacturing, processing and the establishment and operation of a medical cannabis dispensary, with the ability to obtain up to two additional medical cannabis dispensary licenses and three adult-use dispensary licenses.

The Hope Heal Health Dispensary, located at 1 West Street in Fall River, MA, is open daily, 10:00 am to 7:00 pm. For more information call 774-377-9333.

Cresco Labs Acquires Assets In Massachusetts With First Cannabis Harvest Planned For Spring 2019

ILLINOIS: Cresco Labs, one of the largest vertically integrated multi-state cannabis operators in the United States, announced a definitive agreement to acquire 100% of the shares and membership interests of Hope Heal Health, Inc. and an affiliated real estate entity.

The HHH assets include state registration and licensing that will allow for cultivation, manufacturing, processing, and the establishment and operation of a medical marijuana dispensary, with the ability to obtain up to three medical marijuana dispensary licenses and three adult-use dispensary licenses. HHH has entered into host community agreements with the Massachusetts municipalities of Rockland, North Attleborough and Fall River for medical cannabis dispensaries, subject to site approval, and is in the process of applying for adult-use licenses from the Massachusetts Cannabis Control Commission. This transaction is not a material transaction for the company and closing is expected to occur in the first quarter of 2019, subject to receipt of applicable regulatory approvals and other customary closing conditions.

“Massachusetts adds another attractive, high value market to our national footprint,” said Charles Bachtell, CEO of Cresco Labs. “Up until now, the medical patients of Massachusetts have had limited access to relief. We look forward to utilizing our strong capital resources, proven executional abilities, and our vertically integrated and streamlined growth-manufacturing-retail model to serve these patients and develop meaningful market share as we have in Illinois and Pennsylvania.”

HHH’s 150,0001 square foot cultivation facility in Fall River planted its first crop this week with an expected harvest in the first quarter of 2019. Cresco Labs has proven its execution efficiency with an unparalleled speed to market in the state of Pennsylvania, where it operates growing and processing facilities and three retail stores. Cresco hopes to achieve similar accomplishments in Massachusetts, subject to site approvals and barring any unforeseen delays.